I've done some research on the error code, and there's a few potential causes for this issue. Please copy the attached file below, to the installation directory of Universe Sandbox ², and try running the application again.
Please post an updated log file if it's still not working.
C:\Program Files (x86)\Steam\steamapps\common\Universe Sandbox 2\
Additionally, please check to make sure you're Antivirus software is off when you try to launch.